New Report Says OpenAI Completed a Deal That Values the Company at $80 Billion or More

OpenAI, the Microsoft-backed artificial intelligence (AI) company, completed a deal that values the firm at $80 billion or more, according to a new report.

The New York Times reported on Friday, citing people with knowledge of the deal, that OpenAI would sell shares in a tender offer led by venture capital firm Thrive Capital.

Under the deal, employees will be able to cash out their shares in OpenAI rather than a traditional funding round in which the company would sell shares to investors to raise money for the business, the report added.

Read the source article at Fox Business